ABB INDIA Announces Quarterly Results (3QFY20); Net Profit Down 49.7%

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ABB INDIA Announces Quarterly Results (3QFY20); Net Profit Down 49.7%
Fri, 14 Feb

ABB INDIA has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

ABB INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m19,66317,45619,53311.9%-0.7%
Other incomeRs m160164384134.1%140.4%
TurnoverRs m19,82317,62019,91713.0%0.5%
ExpensesRs m17,50916,22318,14911.9%3.7%
Gross profitRs m2,1541,234687-44.3%-68.1%
DepreciationRs m239227224-1.1%-6.1%
InterestRs m5344477.0%-10.2%
Profit before taxRs m2,0231,127800-29.0%-60.5%
TaxRs m736339153-54.8%-79.2%
Profit after taxRs m1,286788647-18.0%-49.7%
Gross profit margin%11.07.13.5
Effective tax rate%36.430.119.1
Net profit margin%6.54.53.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 0.7% on a year-on-year (YoY) basis. The expenses were up by 3.7% YoY during the same period.
  • The company's operating profit declined by 68.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.5% in 3QFY20 as against 11.0% in 3QFY19.
  • Depreciation charges declined by 6.1% and finance costs declined by 10.2% YoY, respectively.
  • Other income increased by 140.4% YoY during the quarter.
  • Net profit for the quarter declined by 49.7% YoY. Net profit margins during the quarter declined from 6.5% in 3QFY19 to 3.2% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 11.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.9% QoQ during the same period.
  • The company's operating profit declined by 44.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.5% in 3QFY20 as against 7.1% in 2QFY19.
  • Net profit for the quarter declined by 18.0% QoQ, while net profit margins declined from 4.5% in 2QFY19 to 3.2% in 3QFY20.

To see how ABB INDIA has performed over the last eight quarters,please visit here.

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ABB INDIA Share Price Performance

Over the last one year,ABB INDIA share price has moved up from Rs 1,130.7 to Rs 1,240.4, registering a Gain of Rs 109.7 or around 9.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,810.2 (down 0.1%). Over the last one year it has moved up from 16,343.3 to 16,810.2, a gain of 467 points (up 2.9%).

Overall, the S&P BSE SENSEX is up 14.4% over the year.

Current Valuations

At the current price of Rs 1,240.4, the price to earnings (P/E) ratio of ABB INDIA stands at 87.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.6 times.

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